Mixed-Use Office and
603 Florence Avenue Union Beach, NJ 07735
603 Florence Avenue, Union Beach, NJ, 07735
$639,900
For Sale
$639,900
COMMERCIAL - Union Beach, NJ
Property Size1,986 SF
Price / SF$322.21
Days on Market65
Property Features for 603 Florence Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Property condition
- Under Construction
- Parking
- 8
- Parking features
- Off Street, Parking Lot, Open
- Basement
- Crawl Space
- Standard status
- Active
- APN
- 50-00015-0000-00001-01
- Size
- 1,986 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 14972
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
- Water front
- 1
Building Details
- Year built
- 2025
- Floors in Building
- 2
- Flooring type
- Vinyl
- Building materials
- Block, Brick, Concrete
Listing agency
Hometown Residential Realty LLC
(732) 583-8888
Listed by
Susan Grace McGowan · License #0125875
(732) 583-8888
Added: May 19 Updated: Jul 10 at 10:41PM Checked: Jul 22 at 4:06AM
MLS# 22614738
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated and flood-proofed mixed-use building is designed for both business use and rental income. The first floor provides an open office space plus a separate back room with its own entrance, along with storage space and a fire panel alarm system. Parking is available for 5 vehicles.
The second floor is a fully renovated apartment that is currently rented. It includes two bedrooms, one bathroom, a large living room, a dining area, and a kitchen with stainless appliances. The apartment also features a large walk-up attic.
The property is situated on a corner peak at Florence/Dock, with reported great visibility.
The second floor is a fully renovated apartment that is currently rented. It includes two bedrooms, one bathroom, a large living room, a dining area, and a kitchen with stainless appliances. The apartment also features a large walk-up attic.
The property is situated on a corner peak at Florence/Dock, with reported great visibility.
Key Highlights
- Mixed‑use commercial building: first‑floor professional office plus a second‑floor rental apartment (currently rented).
- Built in 2025 and under construction; exterior construction includes block, brick, and concrete.
- Office space includes open area, separate back room with its own entrance, storage, and a fire panel alarm system.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.6k | $30.00 |
| − Vacancy | −$4.1k | −$2.04 |
| EGI | $55.5k | $27.96 |
| − OpEx | −$25.0k | −$12.58 |
| NOI | $30.5k | $15.38 |
1,986 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$436.3K
$381.8K – $509.0K
NOI $30,541 @ 7.0% cap · market cap 4.77%
Second Best
Office B
$434.1K
$379.8K – $506.4K
NOI $30,386 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$518.6K
$453.8K – $605.0K
NOI $36,301 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Renovated, flood-proof mixed-use building with first-floor office space and a rented second-floor apartment.
Where is this live-work space located?
The property is located at 603 Florence Avenue Union Beach, NJ.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Mixed‑use commercial building: first‑floor professional office plus a second‑floor rental apartment (currently rented).; Built in 2025 and under construction; exterior construction includes block, brick, and concrete.; Office space includes open area, separate back room with its own entrance, storage, and a fire panel alarm system.
